| I only have to point
to the 555 plus failed .com companies (according to Web Mergers)
as the poster children of the "speed at any cost"
business mantra that clearly doesn't work. And these were companies
who burnt through significant amounts of capital (in the millions,
tens of millions or hundreds of millions in many cases) while
they were rushing to get to market.
Do you wonder why every time you talk to
someone he or she seems to be in such a hurry that they don't
really have time to talk with you? But if you want to work
with them, you have to try and converse on the phone as a
first step, or even worse, setup some type of a face-to-face
meeting. What's going on? Why aren't we all slowing the pace
down so we can focus on business processes that are based
upon viable models? Especially in these economic times where
relationships and processes are critical to ongoing success
and/or survival!
I think we are experiencing some type of
a .com hangover effect. Everyone was in such a hurry during
the heady GBF ("get big fast") .com days ... trying
to do the "land grab" while "driving an "online
brand" that would lead to a quick "exit strategy"
... that they forgot to really define a viable business model
that included development of tangible goods and services for
real customers.
I still come into contact with many people
that act like they've been hard wired to a double espresso.
They aren't sure what they are doing or where they are going,
but they want to do everything in a hurry! It seems like many
are still trying to build a business the same way they did
during the last two years, when fundamentals and many niceties
of business went out the window, while greed became the order
of the day.
We are telling our clients speed can and
does kill on the web. It's time to slow down and think strategically
about what they want to do and then build marketing campaigns
and processes that convey tangible value to their market demographics
(read customers!).
Here are some fundamental marketing
rules for living life in the slow (but safe) lane:
| 1. |
Ensure all
marketing collateral (web and offline) are in synch. Invest
sufficient time and resources to ensure there are no discrepancies
between them to build a cohesive brand that effectively
communicates what you do.
|
| 2. |
Take time
to really evaluate business opportunities. Don't just
blast through relationships, meetings or assessments.
Many times you can build viable partnerships by sitting
down and taking a hard look at how third parties complement
your business and vice versa.
|
| 3. |
Use the web
for what's it's really meant for - as a highway for communications
and commerce. It's not the "saving grace" its
been touted to be by many companies; 87% of Internet users
today utilize the web to research goods and services.
|
| 4. |
Make time
to look at your competitors, whether they are across the
road or on the other side of the world. The web has created
a commerce model where a competitor is just a click away.
So carefully analyze what your competitors are doing.
|
| 5. |
Communicate
with your customers and partners. It doesn't do much good
to build a beautiful web site that does not make it easy
for people to contact your company. I've seen hundreds
of web sites the last year that don't have e-mail contacts
or phone numbers listed prominently. Take/make time to
build a site that lets people communicate with you.
|
| 6. |
Hire
people with some gray hairs. They may not flash the latest
PDA at you or wear the latest trendy clothes, but many
of them have years of experience building companies slowly
and carefully, by paying attention to business fundamentals.
I've got nothing against youth, but it seems like many
over 40-somethings got left by the wayside in the .com
mania and to the detriment of many companies.
|
| 7. |
Think small
when your building a business. The billion dollar days
are gone with last year's PR hyperbole. I get no royalties
from E.F. Shumacher, but I really think his "Small
is Beautiful As if People Mattered" is a wonderful
book and the forward is done by Paul Hawken, a brilliant
serial entrepreneur, well known for his landmark PBS (Public
Broadcasting Service for global readers) series on "Growing
a Business" that inspired many of us to take the
entrepreneurial plunge.
|
So, good luck to all of your tortoises
out there. Keep plodding along!
|
Lee Traupel has 20 plus years of marketing experience.
He is the co-founder of a Northern California and Brussels
Belgium based, privately held, Marketing Services and
Software Company, Intelective Communications, Inc., http://www.intelective.com.
Intelective focuses exclusively on providing services
to small-to-medium-sized companies that need strategic
and tactical marketing services. He can be reached at
Lee@intelective.com.
Please click here to Contact us or call toll free 530.432.8764
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